UPDATE 1-ConocoPhillips sells truck stop stake for $626 mln

Wed Jun 30, 2010 6:29pm EDT

* Sells 50 pct stake to Pilot Travel

* Sale part of ConocoPhillips' $10 bln asset sale plan

NEW YORK, June 30 (Reuters) - ConocoPhillips (COP.N) said it completed the sale of its 50 percent stake in a truck stop joint venture to Pilot Travel Centers for $626 million, marking the latest step in its $10 billion asset sale plan.

The deal to sell the stake in CFJ Properties - Flying J truck stops had been announced earlier, but the price was not known.

ConocoPhillips said the deal also includes long-term product supply agreements with Pilot Travel Centers. (Reporting by Paritosh Bansal; Editing by Steve Orlofsky)

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